Marketing - Business Studies

me3zer
Quiz by , created over 4 years ago

A 10-question quiz on marketing.

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me3zer
Created by me3zer over 4 years ago
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Question 1

Question
What is cost-plus pricing?
Answer
  • Estimating how many of the product will be produced, then calculating the total cost or producing this output and finally adding a percentage mark-up for profit.
  • Used when trying to enter a new market.
  • When the product is usually a new invention, or a new development of an old product, and therefore it can be sold on the market at a high price and people will pay this high price because of the novelty factor.

Question 2

Question
Market share is the ratio of money a company has compared to its competitors in a market.
Answer
  • True
  • False

Question 3

Question
Which of these are different types of promotion?
Answer
  • Gifts
  • Television
  • Competitons
  • Billboards
  • Price reductions

Question 4

Question
At what point does market saturation occur?
Answer
  • At the point the curve starts to rise.
  • At the point where the curve is leveled out.
  • At the point where the curve starts to decline.
  • It doesn't.

Question 5

Question
"SWOT" stands for Strengths, Weakness, Output, Threats.
Answer
  • True
  • False

Question 6

Question
Which of these are products?
Answer
  • Clothes
  • Food
  • Public park
  • Company insurance

Question 7

Question
What is marketing?
Answer
  • Advertising, promotion, and selling.
  • Identifying consumer wants, anticipates their future wants and then goes about satisfying them profitably.
  • To find the total cost of production and then calculate the cost per unit to make that cost per unit plus a percentage the price of the unit.

Question 8

Question
A steep demand curve of a product means that the product has an inelastic demand curve.
Answer
  • True
  • False

Question 9

Question
A market that is a small, usually specialised, segment of a much larger market is called a...
Answer
  • Mass market.
  • Niche market.
  • Money market.

Question 10

Question
What are the four "P"s of the marketing mix?
Answer
  • Price
  • Packaging
  • Promotion
  • Place
  • Product
  • Production